Jan 29, 2024 07:06 PM

FINANCE

Corrupt Former Policy Bank Vice President Gets 20 Years Behind Bars

By Zhang Yukun and Zhang Yuzhe

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What’s new: He Xingxiang, a former vice president of the China Development Bank (CDB), was sentenced to 20 years in prison for four crimes, a court in Beijing ruled on Friday.

He was found guilty of taking bribes, providing bank guarantees illegally, issuing loans illegally, and concealing his offshore bank deposits, according to an announcement by the court the same day.

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